Bank of Communications Announces Management Reshuffle: New Heads for Beijing Branch and BOCOM Trust

Deep News12-11

Bank of Communications (BOCOM) has undergone a series of senior management changes, including the appointment of a new head for its Beijing branch and a new deputy Party chief for BOCOM Trust.

1. **Xu Jiming Steps Down as BOCOM Deputy Party Secretary** Xu Jiming, born in 1966 and holding a Ph.D. in Economics from EHESS Paris, has left his role as BOCOM’s deputy Party secretary. Previously, he served as chairman of the board of supervisors and shareholder supervisor since October 2021. His departure follows BOCOM’s decision to dissolve its supervisory board effective September 25, 2025.

2. **Wang Guan to Lead BOCOM Beijing Branch** Wang Guan, an "80s-born" executive and Tsinghua University graduate, is set to take over as head of BOCOM’s Beijing branch. She previously served as deputy head of the branch and later as general manager of the Pacific Credit Card Center. Under her leadership in retail banking, BOCOM reported AUM of RMB 5.79 trillion (+5.52% YoY) by mid-2025, with retail deposits accounting for 43.10% of total deposits. The Beijing branch, established in 1989, is BOCOM’s largest provincial branch with assets of RMB 1.27 trillion at end-2024.

3. **Zhang Wei Appointed Head of Audit & Supervision Bureau** Zhang Wei, former head of BOCOM’s Sichuan branch, has been named director of the bank’s Audit & Supervision Bureau. A Fudan University graduate, she has held various roles in retail banking and branch management. BOCOM’s audit system employs 1,344 staff, covering 1.51% of its total workforce.

4. **Yu Sang Named Deputy Party Chief at BOCOM Trust** Yu Sang, previously general manager of BOCOM’s Non-Performing Assets Department, has been appointed deputy Party chief of BOCOM Trust, signaling a likely promotion to president. Separately, Zhang Wen became chairman in June 2025 after serving in senior BOCOM roles.

BOCOM Trust, China’s first trust firm controlled by a major state-owned bank, reported total assets of RMB 21.12 billion and net profit of RMB 398 million (-10.16% YoY) for H1 2025, with AUM reaching RMB 644.4 billion (+7.05% YoY).

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